Main Body:
The global phosphatic fertilizers market size is projected to reach USD 83.28 billion by the end of 2026. The ability of phosphate to enhance the overall nutrient value of the crop will lead to a wider product adoption across the world. According to a report published by Fortune Business Insights, titled “Phosphatic Fertilizers Market Size, Share & Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, and Others), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 62.24 billion and will exhibit a CAGR of 3.8% during the forecast period, 2019-2026.
Phosphatic fertilizers are substances that are inclusive of phosphate, a material that is essential for the health of the root of the plant. The use of phosphatic fertilizers will lead to an increase in the overall efficiency of the root as well as the plant. The increasing demand for crops and crop production across the world will create several growth opportunities for companies operating in the market. The massive investments made in the research and development of newer phosphatic fertilizes will bode well for the market in the coming years. The presence of several large scale companies will constitute an increase in the overall market size in the foreseeable future.
Increasing Number of Product Launches Will Aid Growth
The report encompasses several factors that have contributed to the growth of the market in recent years. The increasing number of product launches has made a huge impact on the growth of the market in recent years. In September 2016, ICL announced the launch of a new technology that will be used for the production of controlled release fertilizers. The company introduced ‘E-Max Release Technology’, a system that will release nutrients such as phosphate and nitrogen in a controlled manner. This product will help the company generate3 substantial phosphatic fertilizers market revenue in the coming years and will subsequently have a massive impact on the growth of the market.
An Overview of the Impact of COVID-19 on this Market:
The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. Some industries are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.
We are taking continuous efforts to help your business sustain and grow during COVID-19 pandemics. Based on our experience and expertise, we will offer you an impact analysis of coronavirus outbreak across industries to help you prepare for the future.
North America Holds the Highest Market Share; Increasing Demand for Sustainable Crop Produce Will Aid Growth
The report analyses the ongoing phosphatic fertilizers market trends across North America, Latin America, Asia Pacific, and the Middle East and Africa. Among these regions, the market in North America currently holds the highest market share, driven by the massive demand for crop and agricultural produce in several countries across this region. As of 2018, the market in North America was worth USD 7.54 billion and this value is projected to increase further in the coming years. Besides North America, the market Asia Pacific will witness considerable growth in the coming years, owing to the huge volume of area under cultivation.
Get Detailed Analysis on Phosphatic Fertilizers Market Research Report
https://www.fortunebusinessinsights.com/phosphatic-fertilizers-market-102583
The Global Phosphatic Fertilizers Market Research Report - Industry Analysis, Size, Share, Growth, Trends and Forecast Till 2026 gives an evaluation of the market developments based on historical studies and comprehensive research respectively.
The market segments are also provided with an in-depth outlook of the competitive landscape and a listing of the profiled key players.Phosphatic fertilizers are produced using the phosphates reservoirs found in a variety of rocks with the help of sulfuric acid.
Phosphorous is an essential element for root and seed development as well as the maturation of plants, hence their fertilizers are a very essential component of the modern agricultural practices.
Phosphorous enhances the production of grains as well as forage and thus constitute one of the important elements for the growth of a plant along with nitrogen and potassium.With the exponentially increasing world population, the pressure to get the maximum yield out of the available arable land is increasing tremendously.
This demands use of modern agricultural techniques on the arable land such as the usage of fertilizers.
This ideology is promoting the production and usage of varied fertilizers, phosphatic fertilizers in particular.
The global phosphatic fertilizers market size is projected to reach USD 83.28 billion by the end of 2026.
According to a report published by Fortune Business Insights, titled “Phosphatic Fertilizers Market Size, Share & Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, and Others), By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 62.24 billion and will exhibit a CAGR of 3.8% during the forecast period, 2019-2026.Phosphatic fertilizers are substances that are inclusive of phosphate, a material that is essential for the health of the root of the plant.
The increasing demand for crops and crop production across the world will create several growth opportunities for companies operating in the market.
The massive investments made in the research and development of newer phosphatic fertilizes will bode well for the market in the coming years.
In September 2016, ICL announced the launch of a new technology that will be used for the production of controlled release fertilizers.
The company introduced ‘E-Max Release Technology’, a system that will release nutrients such as phosphate and nitrogen in a controlled manner.
The global phosphatic fertilizers market size is projected to reach USD 83.28 billion by the end of 2026.
The ability of phosphate to enhance the overall nutrient value of the crop will lead to a wider product adoption across the world.
According to a report published by Fortune Business Insights, titled “Phosphatic Fertilizers Market Size, Share & Industry Analysis, By Type (Diammonium Phosphate, Monoammonium Phosphate, Single Superphosphate, Triple Superphosphate, and Others), Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecast, 2019-2026,” the market was worth USD 62.24 billion and will exhibit a CAGR of 3.8% during the forecast period, 2019-2026.Phosphatic fertilizers are substances that are inclusive of phosphate, a material that is essential for the health of the root of the plant.
The increasing demand for crops and crop produce across the world will create several growth opportunities for the companies operating in the market.
The massive investments made in the research and development of newer phosphatic fertilizes will bode well for the market in them coming years.
In September 2016, ICL announced the launch of a new technology that will be used for the production of controlled release fertilizers.
